2) If, under the agreement, 4 months were given to make the payment and the buyer failed to pay the balance of Rs 19 Lakhs, you should have issued notice at the end of the 4-month period. A sale agreement protects the interests of both parties and clearly defines the conditions under which the seller intends to sell the property and the conditions under which the buyer intends to acquire it. This facilitates the smooth conclusion of the transaction without quarrels, confusion and misunderstandings. The most important clause of the AMP OR SPA is the appointment clause that gives effect to the appointment of the second party as a genuine and legitimate lawyer of the client. A purchase agreement is an agreement to sell a property in the future. This agreement sets out the conditions under which the property in question is transferred. 5) You can pay a legal mention for the termination of the contract on the buyer`s failure to pay the balance and refund Rs 1 Lakh. Any power of attorney, including a general or special power of attorney, begins with a brief recognition of ownership and description of ownership and declaration of intent to sell them. Second, the reason for the enforcement of the power should be clarified and the details of incapacity to work should be mentioned in detail. A discussion above therefore indicates that land can only be legally and legally transferred/transported by a registered transport obligation.
Transactions of the type of sales of the AMP or an agreement on the sale/GPA/Willstransmissionsnon of the property and do not constitute a transfer or can be recognized or the valid type of transfer of real estate. (i) the amendment of the Registration Act, 1908 by Amendment Act 48 of 2001 with effect to 24.9.2001, which requires documents that have transferred a contract for a fee (sales agreements, etc.) relating to real estate within the meaning of Section 53A of the Act must be registered; in a sales contract, ownership of the goods must pass from one person to another. Therefore, the seller and buyer must be different people, because a person cannot be both the buyer and the seller. All the conditions of a valid contract, such as free consent, consideration, the competence of the parties, the legitimate purpose and the consideration, must be met. If one of the essential elements of a valid contract is lacking, the sales contract is not valid. 3. If so, send him a letter in which they terminate the contract correctly, as suggested in my previous article, and restart your sales trip. Under Section 54 of the Transfer of Ownership Act, a sales contract, i.e.
a sales contract, does not in itself generate any interest or charge for that property. Hon`ble Apex Court has found in numerous earlier cases, after recognition of various legal provisions, that a sales contract confers only a fiduciary character of the personal undertaking and is attached to the property, but does not constitute an interest or relief. Therefore, the transfer of real estate by sale can only be carried out by a willingness to transport (sale).